STX Europe

STX Europe
Type Private
Industry Shipbuilding
Founded 2004
Headquarters Oslo, Norway
Key people In-Sung Lee (Chairman of the board, Su-jou Kim (President & CEO)
Revenue NOK 31,496 million (2008)[1]
Operating income (NOK 561million) (2008)[1]
Profit NOK 40 million (2008)[1]
Employees 15,500(2008)[1]
Website www.stxeurope.com

STX Europe AS, formerly Aker Yards ASA, a subsidiary of the South Korean industrial chaebol STX Corporation, is the largest shipbuilding group in Europe and the fourth largest in the world.[2] With headquarters in Oslo, Norway, STX Europe operates 15 shipyards in Brazil, Finland, France, Norway, Romania and Vietnam. The company has three business areas: Cruise & Ferries, Offshore & Specialized Vessels and Other Operations.

Contents

History

In 2006, STX Europe acquired a majority share of Alstom's shipbuilding activities, with shipyards in Saint-Nazaire (former Chantiers de l'Atlantique) and in Lorient.

Aker Yards (later renamed STX Europe) was created in 2004 by combining the shipbuilding activities of Aker and Kværner. Aker ASA was until 2007 the company's main shareholder. After having reduced its ownership share from 50.4% to 40.1% in January 2007, Aker divested its total shareholding in March 2007. In October 2007, STX Business Group secured a 39.2% stake of STX Europe. Later, STX has increased their ownership share, and in January 2009 STX acquired the remaining shares in STX Europe and became the company's sole shareholder. Reflecting the new ownership structure, the company changed to its current name on 3 November 2008.[3] In February 2009, it was decided to delist STX Europe from Oslo Stock Exchange where it was previously listed under the ticker STXEUR.

Operations

Cruise & Ferries

The Cruise & Ferries division constructs vessels mainly at shipyards in Finland and France. The business area had revenues of NOK 19,709 million in 2008.

Offshore & Specialized Vessels

The Offshore & Specialized Vessels business area mainly produces its ships in Norway, Vietnam, and Brazil while hulls are often constructed in Romania. The shipyard in Vietnam opened in 2008 and is constructed primarily to serve the Asian market. Ships made by this division include field support vessels such as platform supply vessels "PSV" and Anchor Handling Supply Vessels "AHTS", subsea support vessels, arctic vessels, fishing vessels, naval craft, research vessels and coast guard vessels. The business area had revenues of NOK 10,427 million in 2008.

Other Operations

Other Operations includes the yard in Florø, Norway, which specializes in the production of advanced chemical tankers with stainless steel tanks and juice carriers. Also, Other Operations consists of units for design, development and sales of LNG and arctic technologies, and other solutions as cabins. STX Finland Cabins has delivered more than 100 000 modular cabins[4] to passenger vessels, offshore industry, hotels and also other modules for trains.[5] The business area had revenues of NOK 1,360 million in 2008.

List of shipyards

Cruise + Ferry
Other Operations
OSV (OffShore & Specialized Vessels)

Production

Ships

STX Europe :

References